Pzena Investment Management LLC Has $76.59 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Pzena Investment Management LLC reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 49.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 312,233 shares of the financial services provider's stock after selling 304,534 shares during the period. Pzena Investment Management LLC's holdings in JPMorgan Chase & Co. were worth $76,591,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Hurlow Wealth Management Group Inc. raised its holdings in JPMorgan Chase & Co. by 0.7% during the 4th quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider's stock worth $1,328,000 after buying an additional 40 shares during the period. Wimmer Associates 1 LLC raised its holdings in JPMorgan Chase & Co. by 1.0% during the 4th quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock worth $986,000 after buying an additional 40 shares during the period. Twin Lakes Capital Management LLC raised its holdings in JPMorgan Chase & Co. by 0.3% during the 4th quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock worth $3,340,000 after buying an additional 40 shares during the period. First Command Advisory Services Inc. raised its holdings in JPMorgan Chase & Co. by 0.4% during the 1st quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider's stock worth $2,283,000 after buying an additional 40 shares during the period. Finally, Rockbridge Investment Management LCC raised its holdings in JPMorgan Chase & Co. by 2.3% during the 4th quarter. Rockbridge Investment Management LCC now owns 1,838 shares of the financial services provider's stock worth $441,000 after buying an additional 41 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 0.6%

NYSE:JPM traded up $1.91 during mid-day trading on Friday, reaching $298.46. The stock had a trading volume of 5,918,228 shares, compared to its average volume of 9,347,400. The stock has a market cap of $829.45 billion, a P/E ratio of 15.31, a PEG ratio of 2.02 and a beta of 1.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89. The business's 50 day moving average is $277.68 and its 200 day moving average is $259.88. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $299.59.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The company's revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.12 earnings per share. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.88%. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.

Analysts Set New Price Targets

Several research firms have issued reports on JPM. UBS Group boosted their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Robert W. Baird downgraded JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective on the stock. in a report on Friday, June 27th. Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. TD Cowen started coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 price objective on the stock. Finally, Bank of America upped their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $288.68.

Insiders Place Their Bets

In other news, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the sale, the chief operating officer directly owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total value of $2,375,000.00. Following the completion of the sale, the director directly owned 91,539 shares of the company's stock, valued at $22,884,750. This represents a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,200 shares of company stock valued at $18,060,015 over the last ninety days. 0.47% of the stock is owned by insiders.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.